Michelin announced plans to cut 730 jobs at its Joue-les-Tours, France, truck tire plant, where it plans to end production in 2015.
At the same time, the tiremaker pledged to invest 800 million euros ($1.1 billion) in other French plants and offer early retirement or a choice of transfers to all Joue-les-Tours workers whose jobs will be cut.
Michelin is likely to sell part of the site after production halts "and will make absolutely sure that it serves the interests of the locality," a company spokesperson said. "It’s too early to say exactly what it will become."